Bovis profits reflect a worryingly divided nation

There was a worrying message buried within Bovis’s results. Not in the top
line, which was up strongly, or the bottom line, which did even better. But
tucked away between those figures, the thread that linked them, led to a
worrying conclusion for the British economy.

Bovis chief executive David Ritchie the UK housing market has never been so divided - north and south, rich and poor.

In producing such reassuring figures, Bovis Homes has unashamedly focused on the only market where it can see growth.

It is now almost exclusively building family homes in the south of London. The land it is buying up is predominantly green-field in southern locations.

The strategy is not elitist or divisive, it is practical.

According to Bovis chief executive David Ritchie the UK housing market has never been so divided. To take part in the market you need two things, equity, preferably in an existing house and a history that proves you can handle a mortgage or debt.